NCC Q2 Review - Strong Order Book To Drive Growth: Dolat Capital

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Dolat Capital Report.NCC Ltd. reported results beats estimate on all fronts. The company posted 42.7%/ 12.8% YoY growth in revenue/ Ebitda to Rs 22.0 billion/ Rs 2.4 billion led by better execution. Adjusted profit after tax grew by 25.1% in Q2 FY22 to Rs 731 million. We broadly maintain estimates for FY22E/ FY23E and introduce FY24E. NCC is likely to post strong revenue growth of 32.8% in FY22E primarily driven by strong inflow of Rs 189.1 billion/ Rs 86.5 (including level-one of Rs 26 billion) billion in FY21/ YTD22. We factor normalised revenue growth of 21.4%/ 10% in FY23E/ FY24E. We factor working capital (% of revenue) of 52.9% (FY22E)/ 49.6% (FY23E)/ 49.4% (FY24E) versus 60.4% (FY21). We factor increase in debt to Rs 19.7 billion/ Rs 20.6 billion/ Rs 19.4 billion (FY22E/ FY23E/ FY24E) from Rs 17.9 bn (FY21). .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

NCC Q2 Review - Strong Order Book To Drive Growth: Dolat Capital

NCC Q2 Review - Strong Order Book To Drive Growth: Dolat Capital

Choose a plan